GO plc issued a Company Announcement on 17 December making reference to the Announcement issued by Maltacom plc on 18 January 2006 relating to the charging of VAT on international incoming interconnection traffic.
GO announced that on 14 December 2007 the Court of Appeal rejected the appeal filed by the VAT Department against the January 2006 decision of the VAT Appeals Board.
In 2003 Maltacom had paid an amount of Lm2.8 million under protest covering the total tax claim and the interest incurred to date. The VAT Department is now expected to refund the tax claim and interest due to GO plc and this will positively impact the Group’s income statement. The final amount to be received by GO is still to be announced.